The Bedford Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year.
End of current year
End of prior
year
Net sales revenue​ (all credit)
​$1,220,000
Cost of goods sold
​$725,000
Gross profit
​$495,000
​Selling/general expenses
​$280,000
Interest expense
$ 46 comma 000
Â
$46,000
Net Income
$ 169 comma 000
Â
$169,000
Current assets
​$113,000
​$82,000
Longminus
Â
−term assets
​$512,000
​$440,000
Total assets
​$625,000
​$522,000
Current liabilities
​$57,000
​$52,000
Longminus
Â
−term liabilities
​$275,000
​$245,000
Common​ stockholders' equity
​$293,000
​$225,000
Total liabilities and​ stockholders' equity
​$625,000
​$522,000
Inventory and prepaid expenses account for​ $30,000 of the current​ year's current assets.
Average inventory for the current year is​ $36,250.
Average net accounts receivable for the current year is​ $45,000.
There are​ 35,000 shares of common stock outstanding.
Total dividends paid during the current year were​ $17,000.
The market price per share of common stock is​ $20.
What is the timesminus
Â
−interestminus
Â
−earned ratio for the current​ year?
Answers
Status NEW
Posted 11 Jul 2017 05:07 AM
My Price 20.00
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Attachments
file 1499751571-Solutions file.docx preview (51 words )
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